Cardlytics Sees Unusually Large Options Volume (NASDAQ:CDLX)

Key Points

• Traders bought a significant volume of 4,383 call options for Cardlytics (NASDAQ:CDLX), representing a 255% increase from the usual trading volume.
• Wall Street analysts have rated Cardlytics as a Moderate Buy with an average price target decreasing from $3.00 to $2.00.
• Cardlytics' stock increased by 15.5% during trading, reaching $3.18, with a notable trading volume of over 21 million shares.

Cardlytics, Inc. (NASDAQ:CDLX - Get Free Report) saw unusually large options trading activity on Friday. Stock investors bought 4,383 call options on the stock. This is an increase of 255% compared to the average volume of 1,235 call options.

Analyst Upgrades and Downgrades

Separately, Evercore ISI cut their target price on shares of Cardlytics from $3.00 to $2.00 and set an "in-line" rating for the company in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $2.25.

Insider Activity

In related news, CEO Amit Gupta sold 68,685 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $1.12, for a total value of $76,927.20. Following the sale, the chief executive officer directly owned 491,759 shares of the company's stock, valued at $550,770.08. This represents a 12.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 156,265 shares of company stock valued at $187,768 in the last 90 days. 4.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cardlytics

Institutional investors and hedge funds have recently modified their holdings of the stock. ProShare Advisors LLC acquired a new position in shares of Cardlytics during the 4th quarter worth approximately $43,000. Catalyst Funds Management Pty Ltd acquired a new position in Cardlytics during the second quarter worth $32,000. Post Resch Tallon Group Inc. raised its position in shares of Cardlytics by 100.0% during the 2nd quarter. Post Resch Tallon Group Inc. now owns 20,000 shares of the company's stock worth $33,000 after purchasing an additional 10,000 shares during the last quarter. Sand Hill Global Advisors LLC acquired a new position in shares of Cardlytics during the 2nd quarter worth about $35,000. Finally, Jump Financial LLC acquired a new position in shares of Cardlytics during the 1st quarter worth about $41,000. Institutional investors and hedge funds own 68.10% of the company's stock.

Cardlytics Stock Down 11.5%

CDLX traded down $0.28 during trading on Monday, hitting $2.15. The stock had a trading volume of 7,051,343 shares, compared to its average volume of 2,187,698. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market capitalization of $114.47 million, a PE ratio of -0.59 and a beta of 1.19. The stock has a 50 day simple moving average of $1.52 and a two-hundred day simple moving average of $1.70. Cardlytics has a twelve month low of $0.85 and a twelve month high of $5.24.

Cardlytics Company Profile

Cardlytics, Inc operates an advertising platform in the United States and the United Kingdom. It offers Cardlytics platform, a proprietary native bank advertising channel that enables marketers to reach customers through their network of financial institution partners through digital channels, such as online, mobile applications, email, and various real-time notifications; and Bridg platform, a customer data platform which utilizes point-of-sale data and enables marketers to perform analytics and targeted loyalty marketing, as well as measure the impact of their marketing.